Worldcoin (WLD), the native token “digital identity protecting privacy (World ID)” project founded by OpenAI co-founder Sam Altman, has skyrocketed since listing on major crypto exchanges on July 24.

At the time of writing, WLD is trading at $2.22, reflecting a 33% gain for the day. Despite criticism from almost all corners of the crypto sector, WLD’s 1-day performance eclipses that of Bitcoin (BTC), ether (ETH), XRP (XRP) and the rest of the crypto market that has sold out all day.

One area of ​​concern for many traders is the WLD’s circulating supply versus its supply limit. With only 1% of the total supply currently in circulation, Worldcoin has a fully diluted market cap that exceeds $22 billion.

Related: Worldcoin The launch of the token prompted a response from Vitalik Buterin

The launch of the token saw the release of 143 million WLD and in particular 100 million were allocated to market markers, with the remaining tokens received by investors who verified it by scanning their iris during the Worldcoin pre-launch process.

Despite concerns about the token’s price stability and long-term appreciation, Binance, Bybit, Huobi, OKX, Gate.io, and Kucoin have subscribed to Worldcoin, and its current 24-hour trading volume exceeds $348 million, according to data from CoinGecko.